‘Unprecedented’ move in mortgage rates causing problems for homebuyers: Greg Kuhl
Janus Henderson Investors portfolio manager Greg Kuhl discusses how inflation is affecting the real estate market on ‘The Claman Countdown.’
Mortgage applications continued on a slight downward trend over the past week, according to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications weekly survey ending Nov. 4.
The survey showed the Market Composite Index decreased 0.1% on a seasonally adjusted basis from one week earlier. The Index decreased 2% on an unadjusted basis during the same timeframe.
The Refinance Index decreased 4% from the previous week and was 87% lower than the same week last year.
On the other hand, the seasonally adjusted Purchase Index increased 1% during the previous week, while the unadjusted Purchase Index decreased by 1%, making it 41% lower than this time last year.
MORTGAGE HOLDERS LOST MASSIVE AMOUNT OF EQUITY IN THE THIRD QUARTER: REPORT